VERBUND remains cheapest power provider

10/25/2006Wien

Saving money with VERBUND electricity will remain hot - even despite the fact that, due to a marked increase in procurement costs over the past year, VERBUND-Austrian Power Sales GmbH, VERBUND's electricity sales subsidiary, will be raising energy prices by a moderate 0.5 Cent per kilowatt-hour, taking effect January 1, 2007.

"For an average Austrian household with an annual consumption of 4,000 kWh this still makes us much cheaper than any other electricity provider in Austria - even without taking the price increases of competitors into account," Dipl.-Ing. Hans Haider, Chairman of VERBUND's Managing Board, pointed out.

At present, VERBUND-Austrian Power Sales GmbH is informing its meanwhile 47,000 customers across Austria about the lift in energy prices. Haider is confident that "once the exact increases of the competitors are established, we will notice once again that the savings potential is huge."

VERBUND-Austrian Power Sales GmbH is a fully owned subsidiary of Österreichische Elektrizitätswirtschafts AG that started direct electricity sales on July 1, 2005. Besides household and trade customers, VERBUND-Austrian Power Sales GmbH has also been supplying hydropower from its own production to Austria's industry since the beginning of the year. Besides the two production companies VERBUND-Austrian Hydro Power and VERBUND-Austrian Thermal Power and the trading subsidiary VERBUND-Austrian Power Trading AG, the newly founded sales company is the third pillar of the VERBUND group's electricity business.

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